Chesapeake Shifting ‘Couple Hundred’ Jobs Out of Barnett Shale

Chesapeake’s contractor force will be reduced, and no Fort
Worth layoffs have been announced, Michael Kehs, a spokesman for
Oklahoma City-based Chesapeake said in a telephone interview.
Jobs will be shifted to formations that produce more petroleum
liquids.

“We are committed to our people and doing everything we
can to find a place within the company where they can put their
skills to use,” Kehs said.

Gas for next-month delivery fell 0.1 percent to $2.421 a
million British thermal units today in New York. At that price,
it’s six times cheaper than oil on an energy-equivalent basis.